Management and Governance
Aktia Bank Plc and its subsidiaries, all limited companies, are governed in compliance with the Limited Liability Companies Act. Further, the companies in the Group are managed in accordance with applicable legislation, such as the Act on Credit Institutions, the Act on Commercial Banks and Other Credit Institutions in the Form of a Limited Company, the Act on Mortgage Credit Banks, the Act on Common Funds, the Act on Investment Firms, the Insurance Companies Act, as well as regulations on finance and insurance conglomerates. Further regulations on corporate administration are also included in the rules of procedure adopted by the parent company's Board of Supervisors and Board of Directors that define the areas of responsibility of the individual administrative bodies in more detail. In addition to laws and the company's Articles of Association, Aktia follows the Finnish Corporate Governance Code 2020 for listed companies published by the Securities Market Association. Aktia follows the recommendations in the Finnish Corporate Governance Code in full.
In this part, further information is provided on the Group's administrative bodies and affairs with reference to corporate governance, independence and transparency in its operations. The presentation includes information to be made public in accordance with the Finnish Corporate Governance Code and information on the Group's management and governance to be made available on the company's website in accordance with Chapter 7, Section 7 in the Act on Credit Institutions. Regarding information to be published it shall be noted that Aktia Bank Plc is not classified as a credit institution which is significant for the financial system as defined in Chapter 10, Section 7 and Section 8 in the Act on Credit Institution, for which special requirements concerning the time management of management of the company and the Nominations Committee are applied. In this part information is also provided on information related to applicable insider regulation (MAR).